Value Of Uk Gambling Industry
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The games industry should continue growing at least for the rest of the decade. That's the latest assessment from PricewaterhouseCoopers in its newly released Global and Entertainment Media Outlook 2015-2019 report.
GAMBLING INDUSTRY Gambling Industry Introduction Gambling is an activity which can be found in almost every country or culture. Gambling as a definition means wagering of money or something of material value on a happening with an uncertain result with the main intent of winning additional money or material goods. It looked at the gambling industry's total revenue and its tax payments, including gambling, property and income taxes. It also used a multiplier to consider the industry's impacts on other.
The firm believes that global games revenues will grow at a 5.7 percent CAGR, reaching an annual haul of $93.18 billion by 2019. That growth will come despite a downturn in traditional gaming hardware, as PwC predicts the current generation of consoles to peak around 2017 or 2018 before declining, regardless of whether new consoles show up. That isn't to say the traditional gaming market itself will decline; the downturn in hardware should be offset by continued growth in digital distribution and 'more stable' subscription services.
In 2019, the traditional gaming market is expected to account for $65.91 billion, with digital distribution of traditional games making up almost 20 percent of that total. PwC believes the console market's higher digital pricing, lack of network infrastructure, and allowance for the sale of used games will preserve physical distribution as a relevant part of the industry.
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While traditional gaming will continue to account for nearly 75 percent of all gaming revenues, PwC said it will be eclipsed by social and casual gaming in some emerging market. South Africa, India, Indonesia, Singapore, and five other markets will see a majority of their gaming revenues come from non-traditional sources by 2019.
PwC also singled out the growth of cloud gaming, saying it will benefit greatly by a near-doubling in the number of smartphone connections worldwide.
'This connectivity means that, as with video and music streaming services, cloud streaming gaming services can begin delivering on their potential, but two things are needed: the right pricing model to both drive adoption and generate sufficient returns for platforms and publishers; and continuing investment in broadband and mobile Internet infrastructures to support the required response times for interactivity,' the firm said.
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In the United Kingdom, unlike many regions around the world, the laws relating to online gambling are relatively straightforward.
Some of the legislation in place is quite complicated, but this is only an issue for those that provide gambling services in some form. For UK residents looking to gamble the laws are, for the most part, pretty easy to understand.
Most forms of gambling in the UK, including over the internet, are legal and the industry is very well regulated.
The Gambling Commission which answers to the government’s Department for Culture, Media and Sport regulates the industry (with the exception of spread betting which is regulated by the Financial Conduct Authority) under the terms of the Gambling Act of 2005.
Uk Gambling Law
Among other things, they ensure that operators which offer gambling services, including online, meet the necessary standards.
Value Of Uk Gambling Industry News
As a result, betting and gaming is big business in the UK. There are many land-based casinos and poker rooms throughout the region, and hundreds of retail betting shops. There are also a number of UK based gambling sites and many more foreign-based sites that legally provide their services to UK residents.
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On this page, we look at how the relevant laws affect you when it comes to gambling online, and we explain more about the Gambling Commission and the Gambling Act of 2005. We also provide updates, when necessary, on any changes in the laws and regulations.